Lenovo Group (OTCMKTS:LNVGY) Shares Gap Up – Here’s Why

Lenovo Group Ltd. (OTCMKTS:LNVGY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $27.40, but opened at $28.75. Lenovo Group shares last traded at $27.69, with a volume of 2,675 shares.

Lenovo Group Trading Up 0.7%

The firm has a market capitalization of $17.11 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 0.65 and a beta of 0.75. The business’s 50-day moving average is $25.39 and its 200 day moving average is $26.03. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.67.

Lenovo Group (OTCMKTS:LNVGY) last released its earnings results on Thursday, May 22nd. The technology company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.40 by $0.04. Lenovo Group had a net margin of 2.27% and a return on equity of 29.13%. The firm had revenue of $16.98 billion for the quarter, compared to analyst estimates of $15.77 billion. As a group, analysts anticipate that Lenovo Group Ltd. will post 2.06 EPS for the current fiscal year.

Lenovo Group Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be issued a $0.7593 dividend. The ex-dividend date of this dividend is Thursday, July 31st. This represents a yield of 366.0%. This is an increase from Lenovo Group’s previous dividend of $0.20. Lenovo Group’s payout ratio is 70.23%.

About Lenovo Group

Lenovo Group Limited, an investment holding company, develops, manufactures, and markets technology products and services. It operates through Intelligent Devices Group, Infrastructure Solutions Group, and Solutions and Services Group segments. The company offers commercial and consumer personal computers, as well as servers and workstations; and a family of mobile Internet devices, including tablets and smartphones.